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Warrantech Corporation Repurchases Common Shares

8 September 1998

Warrantech Corporation Repurchases 262,000 of Its Common Shares


    STAMFORD, Conn.--Sept. 8, 1998--Warrantech Corporation (NASDAQ NMS: WTEC) announced today that pursuant to its stock repurchase program, the Company has thus far purchased 262,000 of its common shares in open market transactions.
    On August 18, 1998, the Company announced that its Board of Directors had expanded its stock repurchase program with an authorization to repurchase up to one million shares.
    Warrantech Chairman and Chief Executive Officer, Joel San Antonio, said, "One of our stated goals in expanding our stock repurchase program was to enhance shareholder value. Our purchase of shares to date demonstrates our commitment to this goal and our confidence in the Company's future."
    Warrantech Corporation, through its subsidiaries, administers and markets service contracts and after-market warranties on automobiles, automotive components, recreational vehicles, appliances, consumer electronics, homes, computer and computer peripherals for retailers, distributors and manufacturers. The Company continues to expand its global penetration, and now provides its services in the United States, Canada, Mexico, the United Kingdom, Puerto Rico and Latin America.


    "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are subject to risks and uncertainties, including, but not limited to, the effectiveness of cost containment measures and the continuation of current levels of business activity, the impact of competitive products, product demand and market acceptance risks, reliance on key strategic alliances, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and exchange Commission. These risks could cause the Company's actual results for the current fiscal year and beyond to differ materially from those expressed in any forward looking statements made by, or on behalf of, the Company.


    This release is available on the KCSA Worldwide Website at www.kcsa.com.